Conventionally, transactions, such as wire transfers, electronic funds transfers (“EFT”), and checks, contained limited information regarding the transaction.
In such circumstances, a beneficiary of a transaction may be unaware of the entity that transmitted the funds, the financial institutions which handled the funds, and/or the status of transmission fees which were deducted in the transfer process, as well as other important information.
Therefore, a need exists for the beneficiary and/or the beneficiary financial institution to extract additional information pertaining to the transaction. The additional information may be appended to the transaction, thereby presenting the beneficiary, or any other suitable party, with complete transaction information.
An apparatus and methods, as described below, provide the capability to present an end user, or any other suitable party, with a transaction enriched with additional information.